SailPoint Technologies, which provides identity and access management software, announced terms for its IPO on Monday.
The Austin, TX-based company plans to raise $200 million by offering 20 million shares (29% insider) at a price range of $9 to $11. At the midpoint of the proposed range, SailPoint would command a fully diluted market value of $926 million.
SailPoint Technologies Holdings was founded in 2005 and booked $163 million in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol SAIL. Morgan Stanley, Citi, Jefferies and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of November 13, 2017.
